Melbourne Capital Group hosts American Tax Planning Seminar

On March 4th 2023, Melbourne Capital Group hosted a successful U.S. tax seminar at the Ritz-Carlton in Kuala Lumpur aimed at American expats living in Malaysia. The event featured expert speakers covering various topics, including tax planning, financial planning, and estate planning for international Americans.

Thomas Carden, International Tax Director at American International Tax Advisers, shared valuable insights into tax implications and reporting obligations that American citizens and green card holders must comply with, regardless of their country of residence. He highlighted tax tips that could help minimize U.S. tax liability while overseas and cautioned attendees to be aware of and avoid tax traps such as Passive Foreign Investment Companies (PFIC).

Michael Garcia, Private Wealth Manager at Melbourne Capital Group, spoke in depth about financial planning for American expats, emphasizing the importance of having international health and life insurance and offering unique, U.S.-compliant investment options. He also warned about the negative tax implications associated with most investment opportunities available to American expats in Malaysia and advised attendees to consult a qualified financial planner.

Sharm Ravindran, Managing Partner at Ravindran Advocates& Solicitors, provided essential insights and practical advice on how to navigate the Malaysian legal system to make estate planning more accessible to expats in Malaysia. She stressed the importance of having a will in each jurisdiction where one holds assets to ensure assets are distributed correctly as desired.

Overall, the seminar provided valuable insights into international U.S. tax laws and regulations, American specific financial planning, and Malaysian estate planning. Attendees expressed their gratitude for the opportunity to learn from such knowledgeable and experienced speakers.

Melbourne Capital Group plans to continue hosting similar events in the future, providing American expats in Malaysia with the latest developments in the complex world of international U.S. taxation.

Michael Garcia is Melbourne Capital Group's dedicated U.S. Private Wealth Manager with a decade-long experience of living abroad as an American. Michael's dedication and expertise in handling the complex world of international taxation and reporting requirements enable him to provide exceptional services to his clients. Do not hesitate to contact him at michaelgarcia@melbournecapitalgroup.com if you would like to ensure that your financial interested are protected and optimized to the fullest.

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